US jobless claims fall by 15,000

The number of US workers applying for unemployment aid fell unexpectedly by 15,000 last week, according to government data today…

The number of US workers applying for unemployment aid fell unexpectedly by 15,000 last week, according to government data today.

Initial jobless claims for state unemployment insurance benefits fell to a seasonally adjusted 322,000 in the week ended January 5th, from a slightly revised 337,000 the prior week.

Wall Street economists were expecting a slight increase in new claims to 340,000 from the originally reported 336,000 in the week ended December 29th.

US government bond prices slightly pared early gains after the surprise drop in claims.

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The four-week moving average of new claims, which irons out volatility in the week-to-week figures, fell for the second straight week, slipping to 341,000 from 344,000 the prior week.

A Labor Department analyst said there were no special factors behind the surprise decrease.

Traditionally, there is a good bit of volatility during the period between Thanksgiving and the observance of civil rights leader Martin Luther King's birthday in mid-January.